ON Semiconductor Extends Tender Offer For Fairchild Semiconductor Until April 14

(RTTNews) - ON Semiconductor Corporation (ON) said that it has extended its tender offer to purchase all of the outstanding shares of common stock of Fairchild Semiconductor International Inc. (FCS) for $20.00 per share in cash pending the satisfaction of the conditions to the Offer set forth in the merger agreement entered into on November 18, 2015 between ON Semiconductor and Fairchild.

The Offer will now expire one minute following 11:59 p.m., New York City time, on April 14, 2016, unless further extended as required or permitted by the merger agreement. All other terms and conditions of the Offer remain unchanged.

Computershare Trust Company, N.A., the depositary for the Offer, has advised ON Semiconductor that as of the close of business, New York City time on March 31, 2016, approximately 26.50 millionshares of common stock of Fairchild (not including 3,552,966 shares tendered by notice of guaranteed delivery for which shares have not yet been delivered) have been validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 23.3% of the outstanding shares of common stock of Fairchild.